Wal-Mart Names ex-G.E. Exec to Board

Wal-Mart Stores Inc. said on Aug. 14 that it appointed John Opie, 65, a retired vice chairman of General Electric Co., to its board of directors.r

Opie spent 39 years with G.E. He was head of its lighting group before being promoted to vice chairman and executive officer in 1995. He retired from G.E. in 2000.r

Wal-Mart has been under fire from some investment groups over the number of insiders on its board. The board includes two of founder Sam Walton’s children, Rob and John, two current Wal-Mart executives and two former ones.r

A shareholder proposal that called on Wal-Mart to fill two-thirds of its board positions with independent directors was voted down at the annual meeting in June.r

Wal-Mart said at its annual meeting that it would name two new directors before next June, bringing the total to 15. John Chambers, CEO of Cisco Systems Inc., stepped down as a director, citing time constraints.